Those assets, which are mostly wind farms, will generate an estimated cash flow of €120m distributable to the partners, Acciona added.

KKR co-chairman and co-CEO Henry Kravis said, “I am really optimistic about the opportunity to partner with such a prominent renewable energy company and to help further develop what is already one of the largest operating renewable portfolios in the world.”

Jesús Olmos, Head of KKR Infrastructure in Europe and the firm’s Spanish operations, said:“Today’s announcement represents another important step in the growth and diversification of our global infrastructure platform, following earlier investments in onshore wind, solar, water utilities, district heating, locomotive leasing and parking, in Europe and the US.